The government has shared the complete details about the GST revenue collection for the month of April 2022 which has been the highest in recent times with a better of INR 1.68 lakh crores at par. The gross GST revenue by the government for the month of April is said to be highest in the history of GST revenue and is also more than the previous month by around INR 25,000 crore which was pegged at the INR 1,42,095 crores.
The projected numbers mark a straight month-on-month (MoM) rise in GST collections. In March, a record-high amount of Rs 1.42 lakh crore was collected, which was 6.8% more than with respect to the former month.
The second-highest monthly GST was obtained in April 2021, when the numbers attain a rise to Rs 1.41 lakh cr.
| Month | Amount (in Rs crore) | YoY change |
|---|---|---|
| March 2022 | 1,42,095 | 15% |
| February 2022 | 1,33,026 | 18% |
| January 2022 | 1,40,986 | 18% |
| December 2021 | 1,29,780 | 13% |
| November 2021 | 1,31,526 | 25% |
| October 2021 | 1,30,127 | 24% |
| September 2021 | 1,17,010 | 23% |
| August 2021 | 1,12,020 | 30% |
| July 2021 | 1,16,393 | 33% |
| June 2021 | 92,800 | 2% |
It is the 10th month in a row when the GST collections have crossed the Rs 1 lakh cr mark.
For the complete FY22, the total GST collections amounted to Rs 14.83 lakh crore, an increase of 30% from Rs 11.37 lakh crore in FY21. the finance ministry attributed the increase in GST collections to the current economic recovery including anti-theft activities and different GST rate rationalization measures obtained by the Tax Administration to revamp the inverted duty structures.
Also, the deliberations are in a way to rationalize the taxation rates. The Finance Ministry, dated 25 April mentioned that the Group of ministers formed in September former year to reflect on the rates, was yet to submit their report.
The GoM, guided by Karnataka Chief Minister Basavaraj Bommai, was set up by the GST Council to suggest methods where any anomalies in tax rates can be revamped and revenue can be increased.
